New Issue: Morgan Stanley sells $715,000 buffered equity notes on S&P 500 index

By Sarah Lizee

Olympia, Wash., Jan. 2 – Morgan Stanley Finance LLC priced $715,000 of 0% buffered equity notes due July 1, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The payout at maturity will be par plus any index gain, up to a maximum return of 20.8%.

Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.

Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered equity notes
Underlying index:	S&P 500 index
Amount:	$715,000
Maturity:	July 1, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, up to a maximum return of 20.8%; par if the index falls by up to 20%; 1.25% loss for each 1% decline beyond 20%
Initial level:	2,485.74
Final level:	Average of index closing levels on five trading days ending June 26, 2020
Pricing date:	Dec. 28
Settlement date:	Jan. 3
Agent:	Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
Fees:	1.25%
Cusip:	61768DVW2

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